Skandinaviska Enskilda Banken AB publ Decreases Position in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its stake in The Travelers Companies by 35.6%, owning 68,217 shares worth $18.04 million after selling 37,700 shares in the first quarter.
• Travelers Companies reported an impressive EPS of $6.51, exceeding analysts' expectations of $3.52, alongside a quarterly revenue growth of 7.4% year-over-year.
• The company has announced a quarterly dividend of $1.10, with a dividend yield of 1.69%, indicating a 19.46% payout ratio.

Skandinaviska Enskilda Banken AB publ lowered its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 35.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 68,217 shares of the insurance provider's stock after selling 37,700 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Travelers Companies were worth $18,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Travelers Companies by 1.6% in the 4th quarter. FMR LLC now owns 14,277,851 shares of the insurance provider's stock valued at $3,439,392,000 after purchasing an additional 229,160 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Travelers Companies by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,258,490 shares of the insurance provider's stock valued at $1,269,321,000 after purchasing an additional 182,270 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Travelers Companies by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,752,484 shares of the insurance provider's stock worth $903,937,000 after acquiring an additional 70,036 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Travelers Companies by 236.9% during the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock worth $844,854,000 after acquiring an additional 2,466,098 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Travelers Companies by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,377,966 shares of the insurance provider's stock worth $813,704,000 after acquiring an additional 243,484 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

Travelers Companies Trading Up 0.2%

NYSE TRV traded up $0.62 during trading on Wednesday, hitting $260.44. The stock had a trading volume of 197,520 shares, compared to its average volume of 1,344,742. The company has a market capitalization of $58.63 billion, a PE ratio of 11.53, a PEG ratio of 3.02 and a beta of 0.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $264.78 and a 200 day moving average price of $257.38. The Travelers Companies, Inc. has a twelve month low of $206.43 and a twelve month high of $277.83.

Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating the consensus estimate of $3.52 by $2.99. The company had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. Travelers Companies's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.51 EPS. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's payout ratio is presently 19.46%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Travelers Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wall Street Zen upgraded Travelers Companies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Evercore ISI lifted their price target on Travelers Companies from $288.00 to $296.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Morgan Stanley set a $269.00 price target on Travelers Companies and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Barclays lowered Travelers Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $275.56.

Insiders Place Their Bets

In other news, EVP Jeffrey P. Klenk sold 15,180 shares of Travelers Companies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $272.87, for a total value of $4,142,166.60. Following the completion of the transaction, the executive vice president owned 6,075 shares in the company, valued at approximately $1,657,685.25. This trade represents a 71.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel S. Frey sold 20,286 shares of Travelers Companies stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.48, for a total value of $5,547,815.28. Following the completion of the transaction, the chief financial officer owned 26,932 shares of the company's stock, valued at $7,365,363.36. The trade was a 42.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,374 shares of company stock worth $47,929,912. Corporate insiders own 1.46% of the company's stock.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.